Global stock and bond markets have lost more than $46 trillion in less than a year.
According to Arab Net, Bank of America said that since November 2021, global stock and bond markets have lost about $46.1 trillion of their market value.
Bank of America explained that these losses are due to the interest rate hike and the shock of quantitative tightening by the Federal Reserve.
Bank of America indicated that losses in global markets will not stop until the Federal Reserve ends its policy of raising interest rates in coordination with other central banks.
The bank stated that the strong decline led to forced liquidation on Wall Street, which may explain the recent decline in shares.
